Sensex trips 81 pts despite stellar Infosys nos

Mumbai : The benchmark BSE Sensex, reversing its yesterday’s surprise rally, fell by over 81 points today to close at 24,772.97 as heavy selling in Tata Steel offset better-than-expected third quarter numbers of Infosys.

Depreciating rupee, which breached the 67-mark against dollar by slumping 41 paise to 67.26 (intraday) — its weakest level since September 4, 2013 — too weighed on the sentiment.

Infosys reported a better-than-expected 6.6 per cent rise in its third quarter net profit and raised its annual revenue growth forecast, sending its shares up 4.28 per cent.

Consolidated net profit rose to Rs 3,465 crore in December quarter compared with Rs 3,250 crore in the same period a year ago, the IT major said in a statement.

Meanwhile, deflationary trend eased in December with WPI inflation moving up to (-)0.73 per cent as food articles, mainly vegetables, turned costlier.

On weaker Asian and European cues, the benchmark BSE index had opened about 300 points lower to hit a low of 24,473.22.

However, on revival of value-buying in select counters it managed to regain 25,000 mark briefly and touched a high of 25,018.46. Finally, it ended 81.14 points or 0.33 per cent down at 24,772.97.